We recently went to see a bank owned house in Lake Elmo, Minnesota. When we arrived, there were already plenty of people there.
The inside of the house was better than what I imagined. At 3300 square feet, everything was in pretty good shape for being banked owned. All this house needed was new carpeting and a good cleaning. The layout was really good also.
Across the street was a park so no new houses could be built there.